Finance
UK Chancellor Set to Tighten Grip on Watchdogs and Cut Red Tape
- Rachel Reeves planning to woo City with Mansion House speech
- PM Keir Starmer has said he will ‘march through’ red tape
Rachel Reeves
Photographer: Hollie Adams/Bloomberg
Chancellor of the Exchequer Rachel Reeves plans to stress the positive role of finance firms and pledge to tackle regulatory barriers to business in her first Mansion House speech next month as the Labour government seeks to boost the UK’s competitiveness.
The chancellor will also set out new guidance for the Prudential Regulation Authority and Financial Conduct Authority, either to be published with the Mansion House speech or shortly after, several people familiar with officials’ thinking said.